Tag: mainland

Mainland China stocks ended slightly ahead on Thursday after two days of losses, giving up most intraday gains as the market awaited further evidence that growth in China’s economy and corporate earnings will pick up.The Shanghai Composite Index added 0.4 per cent, or 10.82 points, to 3,101.46 at the close after rising as much as 1.1 per cent. Trading volumes on the Shanghai exchange were about 6 per cent below its 10-day average, according to Bloomberg. In Hong Kong, the Hang Seng Index fell… Source link

A world-beating rally in mainland Chinese stocks stuttered on Wednesday, as traders offloaded holdings in agricultural companies, one of this year’s best-performing sectors, to lock in profits.In mainland China, the Shanghai Composite Index dropped by less than 0.1 per cent, or 0.34 points, to 3,090.64 at the close, almost reversing a decline of as much as 1.2 per cent in volatile trading. In Hong Kong, the Hang Seng Index fell for the first time in five days, as Xiaomi and Meituan Dianping… Source link

China has chosen the Hong Kong unit of its largest international bank to roll out a pilot cross-border account that would break down barriers between the two jurisdictions, making it easier for city residents to gain access to banking services in the world’s second-largest economy.Bank of China (Hong Kong), one of the city’s three currency printers, will allow Hongkongers to open a bank account on the mainland without having to go there in person. The account comes in two types: one with access… Source link

A clutch of luxury car brands including Mercedes-Benz, BMW and Volvo have cut the prices of their vehicles in mainland China after the government announced it would lower value-added tax.The price reductions, amid lacklustre sales in the first two months of this year, added to evidence that the world’s largest auto market is grappling with weaker consumer demand after nearly three decades of sizzling growth.Chinese Premier Li Keqiang said last week that Beijing would slash the VAT on… Source link

The Hong Kong market opened flat on Friday, while leading benchmarks in mainland China recovered losses made in previous sessions.With the conclusion of the annual National People’s Congress in Beijing on Friday, and the release of most of key China economic data on Thursday, investors will once again turn their attention to the US-China trade war and corporate results, said traders.“Investors remained sidelined on Friday. Over the short term, I expect the Hang Seng Index to trade in a tight… Source link

As the ongoing US-China trade war weakens appetite of deep-pocketed mainland buyers for luxury homes, some developers have been offering massive discounts of up to 9 million yuan (US$1.3 million) to make sales.Just a few days after Lunar New Year, mainland developer Tahoe Group began offering aggressive discounts for four luxury projects in Beijing, property agents said. A 410 square metre four-storey home at Cathay Courtyard in the south of the Chinese capital was being offered at 24 million… Source link

In September 2015, HNA Group, the financially stretched mainland conglomerate, shelled out £235 million (US$311 million) for 30 South Colonnade, a trophy office building in London’s Canary Wharf district that at the time was the UK headquarters of Thomson Reuters. Fast forward 3½ years and HNA, which has been frantically disposing of assets across the globe to extricate itself from a severe liquidity crunch, is reportedly in advanced negotiations to sell the property at a 60 per cent discount… Source link

Corporate tenants from the mainland have overtaken their Western peers as the dominant force in Hong Kong’s luxury residential leasing sector, as a growing number of Chinese firms establish ­offices in the city.The top-end of the luxury residential leasing market has seen an uptick in demand in recent months, as companies look to Hong Kong as a financing and trade hub, analysts said.“We see more mainland corporates, particularly newly listed firms in Hong Kong, will be generous when it comes to… Source link

Mainland builders appear to be shifting their land bank strategy by acquiring old buildings for redevelopment, as fierce competition and Beijing’s capital outflow restrictions make it difficult to secure plots in government tenders.Last year, they submitted 39 compulsory en-bloc sale applications to the Lands Tribunal, up 160 per cent from 2017, according to JLL’s Residential Sales Market Monitor released on Tuesday.“As mainland developers are finding it more difficult to win sites in the… Source link

Mainland Chinese developers who arrived late to the Hong Kong real estate party are among the first to suffer the hangover.Property analysts are pointing at developers who bid lavishly two years ago and who now appear to have the least flexibility to lower prices as the property market softens.Esther Liu, director of corporate ratings at rating agency S&P Global said mainland developers who bought land as recently as 15 months ago could face negative surprises on their profit margins if… Source link